@tsubaki which towns? In general, unless you've got a properly commutable (ie reliably 2tph minimum) service to a major city (Bristol/Brum/Manc/Liverpool/Sheffield/Leeds/Newcastle/Glasgow/Edinburgh) and/or a sub-3-hour service to London, the value of a rail link to a provincial town is negligible.
@Death we can't do that, because colour light signalling only allows for 200km/h, and we haven't yet managed to combine in-cab and colour light signalling in a way that safely allows both existing and new high-speed trains to safely use the same route.
When ECTS2 signalling is eventually fitted to the WCML, allowing speeds above 200km/h, 370s would still be a poor choice of train to use: because the WCML is bendy, having been laid in the 1840s, getting round the curves at any decent speed requires a train that tilts. And 300km/h just isn't going to happen with any kind of traction.
The 390s are designed for service at 225km/h, and have been clocked at 250km/h in testing, so if we were going to speed up the WCML then that'd be a better plan than using an obsolete batch of non-tilting trains designed for use on LGVs.
@thesniper most of the point about a HSL is about capacity - you add an extra high-capacity route, thereby freeing up room on the mainlines for semifast and commuter services. Doing it that way is cheaper than piecemeal upgrades, because it doesn't disrupt the functioning of existing railways (this is why the WCML upgrade was so expensive, because it had to work around a route that already existed and couldn't be long-term closed).
On the rolling stock, what, so you think we should scrap 20-year-old EMUs with another 20-30 years' life left in them? That doesn't seem very cost- or environment-friendly... (also, try travelling from London to Bristol. The refurbished 30-year-old stock on those trains is hardly the vilest in the world...)
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The likes of France, Spain, Italy and Germany, and to a lesser extent Holland, Belgium, etc can build a network of high speed lines as they have the space to use. England doesn't.
90% of England is still unpopulated and undeveloped. I reckon we can find room, as long as we're happy for a few halfwitted NIMBY/BANANA types to be Tasered a bit.